Introduction about IP

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INTRODUCTION
deas have the potential to generate tremendous commercial value. It is believed that a good
idea has more value than land, gold or any other property. An idea by itself would not have
any value unless it is converted to property. One of the most viable and popular ways of
adding value to an idea is by protecting it as intellectual property.
Intellectual Property grants exclusive rights over creative, inventive or innovative ideas to
creators, authors and inventors for a limited period of time. The rights granted by intellectual
property over ideas are called intellectual property rights and the law relating to such
intellectual property is called intellectual property law.
Nature of protection
Intellectual Property grants exclusive rights for a limited period of time. Exclusive rights are
rights that can be exercised by the owner of IP alone. If any one exercises the right granted to
the owner without taking permission from the owner, that person would be liable for violation
or infringement of IP.
The rights granted under intellectual property are only for a limited period of time. On expiry of
that period, the creative or inventive idea forms part of the public domain. Any person can
exercise rights over an idea that forms part of the public domain without any liability.
Rationale
The rationale of the government for protecting intellectual property is broadly social, economic
and utilitarian.
Social Rationale
A creative or inventive idea is the result of physical and/or mental efforts of a person. The
government rewards the person for efforts behind his idea by granting exclusive rights in the
form of intellectual property protection.
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Economic rationale
An individual will be inspired to invent and create if he realizes economic or commercial
benefits from his creations or inventions. To promote creativity and inventive activity, the
government grants exclusive rights in the form of intellectual property, which enables the
creator or inventor to gain commercial benefits.
Utilitarian rationale
The government wants to promote the progress of creativity and inventive activity for purposes
of making life better and comfortable for the public. To achieve this goal, it grants exclusive
rights in the form of intellectual property to encourage creators and inventors to come up with
new creations and inventions. This rationale is a combination of the social and economic
rationale viewed from the perspective of public good.
Types of Intellectual Property
An idea can manifest in a number of ways. It can manifest as a book, invention, design or so on.
Each type of manifestation has a different type of intellectual property protection attached to
it. There are various types of intellectual property that protect different types of ideas. Each
one of them grants different types of exclusive rights and has a unique term of protection.
Some of the common types of intellectual property are:
a. Patents
b. Copyrights
c. Trademarks
d. Trade Secrets
e. Industrial Designs
f. Integrated Circuits
g. Geographical Indications
h. Traditional Knowledge
i. Plant Varieties
As shown in the table below, each type of intellectual property protects different aspects and
has a unique term.

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Type of Intellectual
property
Protection Provided to Term of Protection
Patents Inventions 20 years (to be renewed every
year after expiry of first three
years by payment of annuity)
Copyrights Original literary, dramatic, musical and artistic
works
Life of the author plus 60 years
Cinematograph films, sound recordings,
photographs, posthumous publications,
anonymous and pseudonymous publications,
works of government and works of international
organisations
60 years from the date of
publication
Trademarks Names of Companies, products, services,
schemes and other brand names
Unlimited (to be renewed every
10 years by payment of
renewal fee)
Geographical
Indications
Indications used to identify natural, agricultural
or manufactured goods originating from a
definite territory and having special quality or
character attributable to such territory.
10 years (renewable for
another 10 years on payment
of renewal fee)
Industrial Designs Features of shape, configuration, pattern,
ornamentation or composition of lines or colours
applied to any article in two or three dimensional
forms.
10 years (renewable for
another 10 years on payment
of renewal fee)
Trade Secrets Any information with independent economic
value
Unlimited
Integrated Circuits Semi-conductor Integrated Chips and Layout
Designs
10 years
Plant Varieties Genetic resources for new plant varieties 18 years from date of
registration for trees and vines;
15 years from date of
notification by the central
government under Seeds Act
for extant and varieties;
15 years from date of
registration for all the other
varieties.
Traditional
Knowledge
Knowledge, innovations and practices of
indigenous and local communities embodying
traditional life-styles; the wisdom developed
over generations of holistic traditional scientific
utilization of the lands, natural resources and
environment.
Unlimited